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ECB To Dig Further In The Toolbox‏

Published 04/05/2013, 07:02 AM
Updated 05/14/2017, 06:45 AM
Market movers ahead

  • U.S. consumers are back in focus.
  • FOMC minutes to give more clues on Fed outlook for QE.
  • Italian politics set to attract attention again, as President Giorgio Napolitano begins meetings with the advisers he appointed.
  • Chinese inflation should fall markedly for March, to 2.3%, as the boost from Chinese New Year fades again.
  • In Sweden, focus turns to industrial production, unemployment and CPI. Inflation data also takes centre stage in Norway.

Global update

  • The Bank of Japan took a very decisive step increasing stimulus, underpinning our view of more weakening of the JPY.
  • The ECB prepared the ground for new stimulus at the meeting in May. Focus is on non-standard measures but a rate cut is also in play.
  • The U.S. ISM for March disappointed, suggesting we could see a soft patch in Q2 before rebounding again in the second half.

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